OK Cashbag Adapts to TMT Advancements
Posted: January 11th, 2008, by Yunho Chung
As I’ve noticed a couple of entries today about OK Cashbag and mobile coupons (here and here in English). Through my company Veyond I have been participating in projects related to this matter so I thought I put in some comments.
OK Cashbag is a loyalty program initiated and controlled by the SK Group. It was the first of its kind and is today considered a success for SK, not only economically but also for marketing reasons. They have managed to connect a majority of the Koreans to their program allowing a lot of statistical data to be withdrawn from the database. Now is the system adapting to the technological advancements made in the TMT sector and they seem to manage to keep the success going.
As Chosun described, they are mainly focusing on connecting mobile and Internet. Mobile coupons sent out by message (referred to as Gifticon since they are possible to give away to friends etcetra) can be used at certain shops connected to the Internet. Thanks to SK’s size and that they cooperate with many partners they have a great foundation to utilize a good marketing strategy. Since they have realized the potential of the developments in the TMT sector, we can expect the user base and their usage to increase.
